Adriaan Kruger
3 minute read
16 Sep 2020
8:46 am

Bidvest still cleaning up

Adriaan Kruger

The company’s net debt increased from R7.8 billion a year ago to R19.2 billion.

Image: Moneyweb

Bidvest adopted the slogan #EmergeStronger in its fight against Covid-19, and figures presented during the discussion of the results covering this difficult period show the group seems to have achieved this objective. “I am patting my team on the back,” remarked chief executive Lindsay Ralphs on Monday, during the results presentation for the year to June 2020. It is remarkable that revenues increased compared with the previous year, admittedly due to an enlarged stake in Adcock Ingram and the inclusion of the newly acquired PHS Group (a large hygiene service provider operating in Britain and Spain) for a few months....